Mesa Asset Protection Lawyers

“Asset protection” might seem like legal jargon to some. Some people may even think that they don’t any asset protection because they are not “rich” business owners. But asset protection is for everyone–not just those with luxurious summer homes and significant stock portfolios.

Simply put, asset protection is about protecting the things you own so that they are passed on to your heirs or chosen beneficiaries instead of being decimated by future creditor claims, liabilities, or even nursing home care. An experienced Mesa asset protection lawyer from the Gunderson Law Group can help you with this important aspect of estate planning so that you have peace of mind about your family’s future and your legacy.

Options for Estate and Business Planning

The dedicated asset protection lawyers at the Gunderson Law Group can help you understand your options for preserving both personal and business assets.

As part of your estate planning, we can help you understand the different solutions for limiting your liability and your family’s liability in the event of a tragedy or death. Some of the strategies we may suggest you employ include:

Domestic asset protection trusts

Special needs trusts

Offshore asset protection trusts (for real estate and investments)

Other types of trusts

Insurance planning

Planning for marital, community and separate property

Joint tenancy

Long Term Care (Nursing Home) Planning

Those with significant assets and a diverse portfolio of businesses and stock holdings may want to invest in advanced asset protection strategies that involve multiple trusts, possibly including domestic asset protection trusts or offshore trusts. Others may be more concerned about losing their life’s savings to nursing home care in the event of becoming incapacitated. These cases may call for planning around government assistance programs such as Medicaid (including AHCCCS and ALTCS benefits in Arizona) or VA Benefits. Your asset protection lawyer should help you tailor a customized plan that is specific to you and your situation.

Additionally, if you are a business owner, you likely need to make special considerations for protecting your business assets. Some of our solutions may include:

Determining the right entity to offer built-in protection for the business

Creating a business succession plan

Drafting buy-sell agreements

Drafting partnership or operating agreements

Insurance planning

Of course, the best strategy will depend on the type of business you own, its size and other factors. Our experienced Arizona asset protection attorneys will help you understand all the options and give you expert advice on how to reach your goals.

Knowing the Laws

Existing laws provide natural protections for certain assets. These protections are generally referred to as statutory protections. An important part of planning is understanding when these laws will apply and when they will not.

For example, your life insurance policy can be protected by both state and federal law, so even if your estate owes money, your creditors cannot seize it.

It is important to understand the type of protections that statutory laws offer when creating your estate or business plan. To start, you won’t have to waste time creating protections that are already in place by existing laws. Also, you’ll need to be aware of these laws so that you do not inadvertently design an estate plan that undermines them.

The experienced asset protection lawyers at the Gunderson Law Group understand how statutory protections and other laws affect your estate or your business. They will help you find the right solutions that work in tandem with these laws to offer maximum protections.

Call the Gunderson Law Group today to start talking with one of our Mesa asset protection lawyers and build a plan that will create the legacy you want for your heirs and your business.

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